Holding in Company

Ashtead Group PLC
2 July 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     ASHTEAD GROUP PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     M&G INVESTMENT MANAGEMENT LIMITED

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     FUND MANAGER

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     PRUCLT HSBC GIS NOM (UK) PAC AC            12,465,000
     PRUCLT HSBC GIS NOM (UK) PPL AC                60,545

5)   Number of shares/amount of stock acquired.

     -

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     1,500,000

8)   (0.46%) of issued Class

9)   Class of security

     10P ORDINARY SHARES

10)  Date of transaction

     NOT ADVISED

11)  Date company informed

     02.07.01

12)  Total holding following this notification

     12,525,545
               
13)  Total percentage holding of issued class following this notification

     3.87%

14)  Any additional information

     -

15)  Name of contact and telephone number for queries

     ROBERT CLARK - 01372 362300

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ...02.07.2001.....